Buckley Wealth Management LLC Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Buckley Wealth Management LLC increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,801 shares of the company’s stock after acquiring an additional 117 shares during the quarter. Buckley Wealth Management LLC’s holdings in Nexstar Media Group were worth $483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Nexstar Media Group during the third quarter worth $476,000. Envestnet Asset Management Inc. boosted its position in shares of Nexstar Media Group by 21.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 135,089 shares of the company’s stock valued at $19,368,000 after acquiring an additional 23,979 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Nexstar Media Group during the 3rd quarter valued at about $1,811,000. LPL Financial LLC boosted its position in shares of Nexstar Media Group by 11.3% during the 3rd quarter. LPL Financial LLC now owns 28,775 shares of the company’s stock valued at $4,099,000 after acquiring an additional 2,930 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Nexstar Media Group by 8.3% during the 3rd quarter. Stifel Financial Corp now owns 25,459 shares of the company’s stock valued at $3,650,000 after acquiring an additional 1,959 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, EVP Blake Russell sold 433 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the sale, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at approximately $873,920. The disclosure for this sale can be found here. Insiders sold a total of 6,826 shares of company stock valued at $1,080,597 over the last three months. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on NXST shares. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, May 9th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Rosenblatt Securities decreased their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Benchmark reaffirmed a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Thursday, June 20th. Finally, Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $221.00 in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Nexstar Media Group Stock Up 3.5 %

Nexstar Media Group stock traded up $5.60 during mid-day trading on Friday, hitting $165.40. The company had a trading volume of 158,073 shares, compared to its average volume of 353,006. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.57 and a beta of 1.48. The business has a fifty day moving average of $161.59 and a 200 day moving average of $164.14. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.97 earnings per share. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.